Pakistan Business Forum seeks return of agriculture, industry to federal control under proposed 28th Amendment |
Pakistan Business Forum seeks return of agriculture, industry to federal control under proposed 28th Amendment
ISLAMABAD: The Pakistan Business Forum (PBF) on Thursday called for the agriculture and industrial sectors to return to federal policymaking under the purported 28th Constitutional Amendment, to correct “mis-steps” made under the 18th Amendment almost two decades ago.
In a letter to the various political parties and the government, the Punjab-based nonpartisan body said the country’s long-term economic interests could only be safeguarded through a national policy structure on both central production sectors of the economy.
It asked major parties to include comprehensive economic safeguards in the proposed amendment to ensure long-term economic stability and policy continuity in the country, and strongly advocated the need for a stable, predictable and growth-oriented economic framework, stating that frequent policy changes have negatively affected investor confidence and hampered sustainable economic progress.
PBF President Khawaja Mehboobur Rehman said the business community was increasingly seeking consistency and continuity in economic policymaking to support long-term investment and industrial planning.
He emphasised the importance of strengthening national coordination in agriculture and industry through an improved constitutional framework.
“The transfer of agriculture and industrial sectors to the provinces under the 18th Constitutional Amendment did not produce the desired outcomes”, the PBF claimed, noting that Pakistan’s annual cotton production, which stood at around 12 million bales before the amendment, had now declined to nearly 5 million.
Likewise, the PBF........